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Binance (BNB) revisited

//Binance (BNB) revisited

Binance (BNB) revisited

So since i wrote the article on Binance (BNB) one month ago, the coin climbed from 1,80 to 10 dollars and is now hovering around 9. The burn for the tokens is coming up soon, and it will be interesting to see how many will be burned in one go.

At the time of writing the first article, Binance had a marketcap of 220 million, which is now 880 million – a factor 4 increase. However, the underlying value of the coin has also increased – the daily volume of Binance grew from 600 million to now 5,6 billion (a factor 9 increase). The number of users of the exchange has also skyrocketed to 3 million (7 days ago).

I would argue that with the influx of new customers and the insane 24 hour daily volume, the burn in tokens is going to be huge.

Lets put the numbers in perspective again:

On a daily basis Binance is making 28 million dollars a day assuming all fees are paid with BNB coins at 0,05%. Over a quarter (90 days) at this rate, Binance would make 2,5 billion in fees alone. Lets assume their costs are astronomical at 200 million per 90 days – that leaves 2,2 billion as profit. Binance uses 20% of the profit to burn tokens, so at the current growth of the exchange Q1 2018 could look at a burn worth 440 million dollars. Thats a lot of tokens taken out of circulation!!

With the current growth in users, and the amount of BNB coins people want to get for the discount on transactions, the coinvalue is sure to grow further.

By | 2018-01-03T22:30:07+00:00 January 3rd, 2018|Categories: Uncategorized|0 Comments

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